Breakout Stocks of Week 19 @ NYSE
NASDAQ was up last week (week 18) by 1.43% ending at 16,156.33 points after gaining 228.43 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Mizuho Financial Group Inc NYSE:MFG. This stock has had a buy signal since May 03, 2024 when the price was $3.96 , but have so far fallen 0% to $3.96. Some other companies are on our watchlist to, among these are Summit Materials Inc NYSE:SUM Floor & Decor Holdings Inc NYSE:FND Linde plc NYSE:LIN and Alcon Inc. NYSE:ALC which all got a breakout pattern emerging.
| Date | Company | Price | Week 19 |
|---|---|---|---|
| Mizuho Financial Group Inc | $3.96 | $4.00 | 1.01% |
| Summit Materials Inc | $39.46 | $40.61 | 2.91% |
| Floor & Decor Holdings Inc | $113.04 | $121.49 | 7.48% |
| Linde Plc | $423.60 | $434.39 | 2.55% |
| Alcon Inc. | $79.57 | $82.01 | 3.07% |
The Mizuho Financial Group Inc stock price gained 1.28% on the last trading day (Friday, 3rd May 2024), rising from $3.91 to $3.96. During the last trading day the stock fluctuated 1.28% from a day low at $3.91 to a day high of $3.96. The price has risen in 5 of the last 10 days and is up by 2.86% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 184 thousand more shares were traded than the day before. In total, 646 thousand shares were bought and sold for approximately $2.56 million.
On May 16, 2024, it was reported that DBS Bank gave MFG a "Hold" grade with a "downgrade" action.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mizuho Financial Group Inc stock to perform well in the short-term.
About Mizuho Financial Group Inc:
Mizuho Financial Group, Inc., together with its subsidiaries, engages in banking, trust, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally. It operates through five segments: Retail & Business Banking Company, Corporate & Institutional Company, Global Corporate Company, Global Markets Company, and Asset Management Company. The company provides deposit products; syndicated, housing, and card loans; business matching services; and advisory services related to overseas expansions, and mergers and acquisitions-related services. It also offers consulting services, including asset management and asset succession; payroll services; and sells lottery tickets issued by prefectures and ordinance-designated cities. In addition, it offers financial solutions, such as bonds, mergers and acquisitions advisory, risk hedging products, etc. for corporate customers to meet their needs in fund-raising, investment management, and financial strategies; solutions based on their capital management, business strategy, and financial strategy; real estate agency services; advisory services and solutions, such as advice on proposals on various investment products to financial institutions; and financial services that include funding support and public bonds underwriting. Further, the company offers sales and trading services to meet needs for customers; investment products for individual customers; and consulting services for institutional investors. Additionally, the company provides products and services related to trust, securitization and structured finance, pension, and stock transfers; securities services; and research, private banking, and information technology-related services. Mizuho Financial Group, Inc. was incorporated in 2003 and is headquartered in Tokyo, Japan.
The Summit Materials Inc stock price gained 0.92% on the last trading day (Friday, 3rd May 2024), rising from $39.10 to $39.46. During the last trading day the stock fluctuated 2.67% from a day low at $39.27 to a day high of $40.32. The price has risen in 7 of the last 10 days and is up by 3% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 1 million shares were bought and sold for approximately $58.14 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On May 15, 2024, it was reported that Wolfe Research gave SUM a "Outperform" grade with a "upgrade" action.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Summit Materials Inc stock to perform well in the short-term period.
About Summit Materials Inc:
Summit Materials, Inc., through its subsidiaries, produces and sells construction materials and related downstream products for the public infrastructure, and residential and nonresidential end markets. It operates through three segments: West, East, and Cement. The company's products include aggregates, cement, ready-mix concrete, asphalt paving mixes, and concrete products, as well as plastics components. It also provides asphalt paving and related services to the private and public infrastructure sectors. In addition, the company operates municipal waste, construction, and demolition debris landfills; and liquid asphalt terminals. It has operations in the United States; and in British Columbia, Canada. The company was founded in 2009 and is headquartered in Denver, Colorado.
The Floor & Decor Holdings Inc stock price gained 0.248% on the last trading day (Friday, 3rd May 2024), rising from $112.76 to $113.04. During the last trading day the stock fluctuated 8.26% from a day low at $109.00 to a day high of $118.00. The price has risen in 6 of the last 10 days and is up by 4.57% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 136 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $260.00 million.
On May 03, 2024, it was reported that UBS gave FND a "Neutral" grade with a "hold" action.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Floor & Decor Holdings Inc stock to perform well in the short-term period.
About Floor & Decor Holdings Inc:
Floor & Decor Holdings, Inc. operates as a multi-channel specialty retailer and commercial flooring distributor of hard surface flooring and related accessories. The company's stores offer tile, wood, laminate, vinyl, and natural stone flooring products, as well as decorative and installation accessories. It serves professional installers, commercial businesses, and do it yourself customers. As of May 5, 2022, the company operated 166 warehouse-format stores and five design studios in 34 states. It also sells products through its Website, FloorandDecor.com. The company was formerly known as FDO Holdings, Inc. and changed its name to Floor & Decor Holdings, Inc. in April 2017. Floor & Decor Holdings, Inc. was founded in 2000 and is headquartered in Atlanta, Georgia.
The Linde plc stock price gained 0.95% on the last trading day (Friday, 3rd May 2024), rising from $419.62 to $423.60. During the last trading day the stock fluctuated 1.84% from a day low at $418.08 to a day high of $425.77. The price has fallen in 6 of the last 10 days and is down by -5.09% for this period. Volume fell on the last day by -3 million shares and in total, 3 million shares were bought and sold for approximately $1.10 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On May 06, 2024, it was reported that BMO Capital gave LIN a "Outperform" grade with a "hold" action.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Linde plc:
Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. The company also designs and constructs turnkey process plants for third-party customers, as well as for the gas businesses in various locations, such as olefin, natural gas, air separation, hydrogen, and synthesis gas plants. It serves a range of industries, including healthcare, energy, manufacturing, food, beverage carbonation, fiber-optics, steel making, aerospace, chemicals, and water treatment. The company was founded in 1879 and is based in Woking, the United Kingdom.
The Alcon Inc. stock price gained 1.47% on the last trading day (Friday, 3rd May 2024), rising from $78.42 to $79.57. During the last trading day the stock fluctuated 0.91% from a day low at $79.36 to a day high of $80.08. The price has fallen in 6 of the last 10 days but is still up by 0.03% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 162 thousand more shares were traded than the day before. In total, 595 thousand shares were bought and sold for approximately $47.32 million.
On May 15, 2024, it was reported that Oppenheimer gave ALC a "Outperform" grade with a "upgrade" action.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Alcon Inc. stock to perform well in the short-term period.
About Alcon Inc.:
Alcon Inc., an eye care company, researches, develops, manufactures, distributes, and sells eye care products for eye care professionals and their patients worldwide. The company's Surgical segment offers equipment, instrumentation and diagnostics, intraocular lenses (IOLs), and other implantables; and consumables, including viscoelastics, surgical solutions, incisional instruments, surgical custom packs, and other products for use in surgical procedures. Its cataract products include centurion vision system, LenSx femtosecond laser, LuxOR surgical ophthalmic microscope, NGENUITY 3D visualization system, and ORA system for intra-operative measurements; custom pak surgical procedure packs; vitreoretinal products comprising constellation vision systems, procedure packs, lasers and hand-held microsurgical instruments, and grieshaber and MIVS instruments, as well as scissors, forceps and micro-instruments, medical grade vitreous tamponades, and Hypervit vitrectomy probes; refractive surgery products, including WaveLight lasers and Contoura Vision used for LASIK treatment; EX-PRESS glaucoma filtration device; and implantables products, including AcrySof IQ IOLs products include monofocal IOLs and advanced technology IOLs under the PanOptix and ReSTOR brands for the correction of presbyopia and astigmatism at the time of cataract surgery. Its Vision Care segment provides daily disposable, reusable, and color-enhancing contact lenses; ocular health products, such as dry eye, glaucoma, contact lens care, and ocular allergies; and ocular vitamins and redness relievers under the TOTAL, PRECISION, DAILIES AquaComfort PLUS, Air Optix, Opti-Free, Clear Care, Tears Naturale, Genteal, ICAPS, and Vitalux brands. The company was formerly known as Alcon Universal S.A. and changed the name to Alcon Inc. in December 2001. Alcon Inc. was founded in 1945 and is headquartered in Geneva, Switzerland.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
